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The actual reason why this happens is that when someone controls the money supply, they will eventually start creating more money for their own benefit, or the
by Geee 5y ago
The actual reason why this happens is that when someone controls the money supply, they will eventually start creating more money for their own benefit, or the benefit of those who vote for them. It's almost as whole societies get high on 'free money', while stripping capital away from productive activities. This has always happened in human history, and it's the actual reason for almost all societal collapses and wars. Centralized monetary systems have this inherent flaw, and it can't be fixed. The only solution for this is Bitcoin, which is incorruptible and can't be inflated by anyone.
- mistermann 5y agoAgreed, but if we had a more sophisticated form of democracy, we could do things like enforce transparency and documentation (and therefore honesty)....as it is, I think it is safe to assume that the various people in positions of power are happy to coordinate their talking points and documentation to minimize personal harm when something goes wrong. It's bizarre how carefully we design relatively minor systems on this planet, but arguably the most important system of them all is a giant mess of bugs...and hardly anyone seems to notice or care.
- Geee 5y agoWell, the issue is that there can't be real democracy when money is cheap. Whoever promises the most stimmies will always win. There are no hard limits on bad decisions. Real politics and real democracy starts when there is no cheap money and people have to make actual decisions and compromises. After that, maybe all the governance structures and methods will face pressure to innovate.
- mistermann 5y agoI believe a system could be designed that would be resilient to these and other problems. If we don't even try, we will never know what is possible.